Facebook, Huffington Post launch news sharing platform “HuffPost Social News”

In a concept quite similar to the last year launch of The New York Times' sharing service TimesPeople, Facebook and noninterventionist news channel The Huffington Post have teamed up and launched the "HuffPost Social News" - a platform that would facilitate the sharing of news stories by users and their friends, on the social network.

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ONS data reveals UK inflation rate remained unchanged at 1.8% in July

According to the official data revealed by the Office for National Statistics (ONS), the 12-month inflation rate in Britain stood unchanged at 1.8 percent in July, thereby holding below the Bank of England's target level of percent.

The unchanged inflation rate, which also surprised the economists expecting the July Consumer Price Index (CPI) to fall to 1.5 percent, indicates that inflationary pressures on the UK economy may be easing.

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Left-wing think tank: Wages should be capped by ‘High Pay Commission’

Recently, establishment of a "high pay commission" was called for by 100 politicians, academics and campaigners with the aim of dealing with the gap between rich and poor workers.

A list of public figures has been made by left-wing think tank Compass. The list includes names of those who agree the financial crisis was "significantly caused by greed" and support a review of salaries of top executives.

They compared it to the Low Pay Commission, which was set up in 1997 to advice on the minimum wage.

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‘Scrappage’ scheme demanded by retailers for domestic appliances

As per the media reports, a 'scrappage' project is being sought by the retailers for domestic appliances like fridges.

It was forwarded by the British Retail Consortium (BRC) that a plan same as the "cash for bangers" scheme for the car trade would protect jobs, which will aid Britain to hit carbon emission targets by motivating people to switch to more energy-efficient white goods. Furthermore, it is also mulling for tax relief on energy efficient items.

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RBS acquisition of ABN being reviewed by FSA

It has appeared that Royal Bank of Scotland's (RBS) acquisition of ABN Amro and its £12bn rights issue is being investigated by the Financial Services Authority. The mention of the inquiry was typed in a footnote in RBS's interim results.

The note by RBS read: "In April 2009 the FSA notified the group that it was commencing a supervisory review of the acquisition of ABN AMRO in 2007 and the 2008 capital raisings. The group and its subsidiaries are co-operating fully with this review."

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